google-site-verification=jrFRO6oYNLK1iKh3HkH_yKgws4mFcOFcPvOCyqbqAnk
Pakistan's Premier Multilingual News Agency

Gold price in Pakistan reached Rs.169,650

The gold price has jumped suddenly in Pakistan, reaching Rs.169,650 per Tola, considered to be a high level of price historically which was raised due to a shortage of dollars in the country, on Monday 12, December 2022.

Karachi, 13 December 2022 (GNP): Gold price increase in Pakistan reached RS 169650 per tola on Monday because, due to bad conditions of the economic situation, the investors are keeping their gold safe.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), at the start of December, the gold rate has been becoming increased rapidly day by day as it closed at new peaks.

Adnan Agar, director of gold commodities, claimed that the market’s rising gold price was mostly due to a lack of dollars.

Also Read: 22nd Sarawak Junior International Golf Championship athlete from AAA Associates

The investor wanted to invest in dollars, but regrettably, the dollar rate on the open market and the interbank differs significantly.

As a result, investors are becoming dissatisfied with investing in Pakistan because of Pakistan’s deteriorating economic situation, which is increasing the likelihood of default.

Due to the lack of dollars, the investor has instead chosen to focus on gold, which is rising in popularity on the global market.

While the price of 10 grams of 22 karat gold went to Rs133,327 from Rs131,480, the price of 10 grams of 24-carat gold increased by Rs 2016, selling for Rs145,448 as opposed to Rs143,432 at the time.

Also Read: China, India Troops Clash on Arunachal Pradesh Border

Moreover, the price of ten grams of silver rose by 68.58 rupees to Rs1688.95, and the price of a tola of silver jumped by 80 rupees and was sold for Rs1970.

Gold traded for US$1,794 per ounce on the international market, down US$3 from the previous day’s sale price of US$1,797.

google-site-verification=jrFRO6oYNLK1iKh3HkH_yKgws4mFcOFcPvOCyqbqAnk